Trump late Monday night fought back, suggesting his administration may investigate Musk’s companies’ massive government contracts. On Tuesday at the White House, Trump said Musk risked losing “a lot more” than government subsidies and threatened that the Department of Government Efficiency that Musk once led may “go back and eat Elon.”

Elon Musk’s feud with President Donald Trump has reignited, with the tech billionaire threatening to launch a new political party and Trump suggesting Musk could be punished for his opposition.

Here are the key quotes to understand how the past 24 hours (and counting) unfolded between the president and Elon Musk over the Big, Beautiful Bill.